YEREVAN, NOVEMBER 13, NOYAN TAPAN. When the chairman of the Central Bank of Armenia (CBA) Tigran Sargsyan was appointed prime minister and the monetary policy was moved to the economic field, the economy suffered a stroke. Member of the National Assembly's "ARF" faction Artsvik Minasian made this statement at the November 13 press conference. According to him, some newly-established body rather than CBA should control the financial market. Speaking about inflation recorded in the country in recent months, A. Minasian pointed out the existence of monopolies as the first reason, the absence of any mechanisms to counteract inflation within the economy as the second reason, and the irresolution of the government that fails to get rid of monopolies as the third reason for inflation. Noting that inflation has already reached 5%, the NA deputy added that although the government and CBA will start conducting a curbing policy, it will be an artificial step. As for the 2010 draft state budget discussed at the National Assembly, A. Minasian said it is "just a budget to keep body and soul together" and this document does not satisfy the requirements that the government had originally set itself. The ARF representative reminded that at the beginning of the global financial and economic crisis, the Armenian prime minister expressed confidence that the crisis would not do especial harm to Armenia, whereas now the authorities declare that being a small country, Armenia felt at once the strong impact of the crisis.

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